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The Harvey files 2: housing market part 3

By Harvey Cole  

Disillusioned by their experience of other forms of investment, increasing numbers of people are putting money into houses—their own or those they buy to let to others—to provide a nest-egg for their retirement. Thousands are also helping their children to get a foot on to the rapidly receding first rung of the housing ladder by giving them all or part of the initial deposit. By 2006 the proportion of first-time buyers with such assistance had reached 40 per cent, against less than 10 per cent ten years earlier.

Of course, help with a deposit is a transfer of wealth from…

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